AG 2016 07 18 - Laserfiche WebLink

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the Closing or earlier termination of this Agreement. Buyer shall, at Buyer's expense, promptly repair any damage to the Property caused by Buyer's entry and on -site inspections. Except as provided in Section 6(c) above, Buyer shall have from the Contract Date through the end of the Examination Period to perform the above inspections, examinations and testing. IF BUYER CHOOSES NOT TO PURCHASE THE PROPERTY, FOR ANY REASON OR NO REASON, AND PROVIDES WRITTEN NOTICE TO SELLER THEREOF PRIOR TO THE EXPIRATION OF THE EXANHNATION PERIOD, THEN THIS AGREEMENT SHALL TERNHNATE. (d) Seller's Due Authority Seller hereby represents and warrants that it has all necessary and valid due authority to enter into this Agreement, to execute this Agreement and to convey the Property at Closing. (e) Buyer's Due Authority Seller acknowledges and agrees that Buyer's obligations hereunder are contingent upon its receipt of all necessary approvals from the Cabarrus County Board of Education and the Cabarrus County Board of Commissioners. Buyer represents and warrants that it will make all reasonable and customary efforts in order to obtain the foregoing approvals. Section 7. Leases (Check one of the following, as applicable): ® If this box is checked, Seller affirmatively represents and warrants that there are no Leases (as hereinafter defined) affecting the Property. ❑ If this box is checked, Seller discloses that there are one or more leases affecting the Property (oral or written, recorded or not — "Leases ") and the following provisions are hereby made a part of this Agreement. Section 8. Environmental: Seller represents and warrants that it has no actual knowledge of the presence or disposal of hazardous or toxic waste or substances. Seller has no actual knowledge of any contamination of the Property from such substances as may have been disposed of or stored on neighboring tracts. Section 9. Risk of Loss /Damage /Repair: Until Closing, the risk of loss or damage to the Property, except as otherwise provided herein, shall be borne by Seller. Except as to maintaining the Property in its same condition, Seller shall have no responsibility for the repair of the Property, including any improvements, unless the parties hereto agree in writing. Section 10. Post Closing Possession. Buyer acknowledges and agrees that Seller shall be entitled to continue to occupy and reside in the residential home located on the Property until January 31, 2017, provided that, at the time of Closing, Seller enters into a Post Closing Possession Agreement with Buyer and provides evidence of reasonably sufficient insurance. Furthermore, Seller shall be entitled to remove the existing house from the Property, on or before January 31, 2017, at Seller's sole cost and expense and Buyer shall have no liability whatsoever associated with the removal of the existing house from the Property. Section 11. Closing: At Closing, Seller shall deliver to Buyer a special warranty deed and other documents customarily executed or delivered by a seller in similar transactions, including without limitation, a bill of sale for any personalty, an owner's affidavit, lien waiver forms and a non - foreign status affidavit (pursuant to the Foreign Investment in Real Property Tax Act), and Buyer shall pay to Seller the Purchase Price. The Closing shall be held at the office of Buyer's attorney or such other place as the parties hereto may mutually agree. Possession shall be delivered at Closing, unless otherwise agreed herein. Section 12. Notices: Unless otherwise provided herein, all notices and other communications which may be or are required to be given or made by any party to the other in connection herewith shall be in writing and shall be Page 4 of 8 Buyer Initials Seller Initials G -2 Page 122